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Real Estate Agent - Realty Direct
20% of mortgages are underwaterby Les Christie More than 20% of the nation's mortgage borrowers owe more than their homes are worth.At 21.5% for the third quarter, it is a small improvement over the previous quarter, when 23.3% of loans were underwater, according to real estate website
The FHA Rethinks Its Mortgage LendingIs this the end of the cheap Federal Housing Administration mortgage?Over the last few years, as the private mortgage market has remained in lockdown, the FHA, which is backed by the government, has increased its lending activity. Instead of requiring borrower...
10 Worst First-Time Homebuyer Mistakes 2010 by Amy Fontinelle, 1. Not Knowing What You Can Afford As we've all learned from the subprime mortgage mess, what the bank says you can afford and what you know you can afford or are comfortable with paying are not necessarily the same. ...
Why short sale after bankruptcy?By CYNTHIAA. RIDDELL Many homeowners are watching their real estate values decline yet their mortgage balance remain the same.The challenging real estate market and a high unemployment rate have forced many homeowners to try to get rid of their properties through a...
75% of modified home loans will redefaultby Les Christie Most borrowers who have had their mortgages modified through a government-sponsored program will redefault within 12 months, according to a report released Wednesday.Between 65% and 75% of loans that are modified through the Home Affordable...
Banks seizing more foreclosed homesBy Tami LuhbyBanks are seizing more foreclosed homes even as the number of people falling behind on their mortgages is declining.Bank repossessions hit a record monthly high in May, according to RealtyTrac, the online marketer of foreclosed properties. Lenders t...
Stop Pre-foreclosure Fears with Short Salesby Real Estate ZooAre you behind on your mortgage payments? Can't catch up with the bills no matter what you do? Is the bank sending you letters that say your home loan is in pre-foreclosure? Don't panic. Many people across the country are going through ...
Is a housing shortage coming?by Les Christie As the nation struggles to shrug off the worst housing crash since the Great Depression, it may be hard to believe a housing shortage could be on its way.The nation is simply not building enough homes to keep up with potential demand. Just 672,000 new ...
"Flopping" Short Sale Properties - Criminals are always trying to find ways of profitingMichael Richardson"It's just that criminals are always trying to find ways of profiting." said Morgan McCartyThe goal of a short sale is to help a homeowner avoid foreclosure if they are no longer able to make...
Homebuyers could get more time for tax creditBy Tami LuhbyFirst-time homebuyers looking to land an $8,000 federal income tax credit may have a little more time to close on theirpurchases if a Senate amendment unveiled Thursday makes it into law.As it stands now, homebuyers must have signed contra...

Brian Turner

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